Schroder Investment Management Group Reduces Position in Automatic Data Processing (ADP)

Schroder Investment Management Group lowered its holdings in shares of Automatic Data Processing (NYSE:ADP) by 7.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 210,481 shares of the business services provider’s stock after selling 15,912 shares during the period. Schroder Investment Management Group’s holdings in Automatic Data Processing were worth $21,355,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. WESPAC Advisors LLC boosted its stake in Automatic Data Processing by 62.8% during the second quarter. WESPAC Advisors LLC now owns 20,722 shares of the business services provider’s stock worth $2,123,000 after acquiring an additional 7,991 shares in the last quarter. IFM Investors Pty Ltd bought a new stake in Automatic Data Processing during the second quarter worth about $1,262,000. Dearborn Partners LLC boosted its stake in Automatic Data Processing by 3.3% during the second quarter. Dearborn Partners LLC now owns 296,036 shares of the business services provider’s stock worth $30,332,000 after acquiring an additional 9,520 shares in the last quarter. WMS Partners LLC boosted its stake in Automatic Data Processing by 15.4% during the second quarter. WMS Partners LLC now owns 3,029 shares of the business services provider’s stock worth $310,000 after acquiring an additional 404 shares in the last quarter. Finally, Fiduciary Trust Co. raised its holdings in Automatic Data Processing by 5.1% in the second quarter. Fiduciary Trust Co. now owns 171,114 shares of the business services provider’s stock worth $17,532,000 after buying an additional 8,375 shares during the last quarter.

Automatic Data Processing (ADP) opened at 118.25 on Monday. The stock has a market capitalization of $52.55 billion and a PE ratio of 30.71. Automatic Data Processing has a 12-month low of $86.53 and a 12-month high of $121.77. The stock’s 50 day moving average is $111.40 and its 200 day moving average is $105.70.

Automatic Data Processing (NYSE:ADP) last released its earnings results on Thursday, July 27th. The business services provider reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.02). The company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.04 billion. Automatic Data Processing had a return on equity of 26.39% and a net margin of 8.67%. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the business earned $0.69 earnings per share. Equities analysts anticipate that Automatic Data Processing will post $3.82 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Sunday, October 1st. Investors of record on Friday, September 8th were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date was Thursday, September 7th.

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In related news, VP Brock Albinson sold 3,663 shares of Automatic Data Processing stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $106.54, for a total value of $390,256.02. Following the completion of the sale, the vice president now directly owns 6,287 shares in the company, valued at approximately $669,816.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Maria Black sold 631 shares of Automatic Data Processing stock in a transaction that occurred on Saturday, September 2nd. The stock was sold at an average price of $106.64, for a total transaction of $67,289.84. Following the completion of the sale, the vice president now owns 10,550 shares of the company’s stock, valued at $1,125,052. The disclosure for this sale can be found here.

Several research analysts have issued reports on the stock. Royal Bank Of Canada lifted their target price on shares of Automatic Data Processing from $94.00 to $95.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 1st. BidaskClub raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Stifel Nicolaus reaffirmed a “hold” rating and issued a $108.00 target price (up from $103.00) on shares of Automatic Data Processing in a report on Sunday, July 30th. Barclays PLC cut shares of Automatic Data Processing from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $110.00 to $105.00 in a report on Tuesday, July 18th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and issued a $110.00 target price (up from $98.00) on shares of Automatic Data Processing in a report on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $109.96.

Automatic Data Processing Profile

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.

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Institutional Ownership by Quarter for Automatic Data Processing (NYSE:ADP)

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